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Apr 26, 2019

Uber to kick off investor road show with IPO terms on Friday

By Joshua Franklin and Heather Somerville (Reuters) - Ride-hailing company Uber Technologies Inc will unveil terms for its initial public offering on Friday, telling investors it will seek to be valued at between $80 billion and $90 billion, according to people familiar with the matter. The valuation sought is less than the $120 billion valuation that investment bankers told Uber last year it could fetch, and closer to the $76 billion valuation it attained in its last private fundraising round last year.

#Reuters
Apr 26, 2019

Mattel signals end to Toys "R" Us woes as Barbie boosts sales

(Reuters) - Mattel Inc beat Wall Street estimates for quarterly revenue on Thursday, as a more diverse range of Barbie dolls and new toys based on franchises such as the "Jurassic World" powered sales in the United States. Shares rose 11 percent after hours, as the toymaker had warned of slowing Barbie sales in 2019 against the backdrop of a new "Frozen" movie later this year that could drive demand for rival Hasbro Inc's Disney princess dolls

#Reuters
Apr 26, 2019

Amazon aims to bring one-day delivery to Prime members around the globe

By Jeffrey Dastin and Arjun Panchadar (Reuters) - Amazon.com Inc plans to deliver packages to members of its loyalty club Prime in just one day, instead of two days, part of a spending ramp-up that might curb future profits after a blockbuster first quarter. Shares rose as much as 2% in after-hours trade on Thursday on the faster shipping announcement for customers around the globe and as Amazon's first-quarter profit trounced estimates thanks to soaring demand for its cloud and ad services.

#Reuters
Apr 26, 2019

New coffees, delivery push fuel Starbucks quarterly sales, profit view

(Reuters) - Starbucks Corp raised its full-year profit forecast and beat Wall Street estimates for quarterly same-store sales on Thursday, as its new Cloud Macchiato, Matcha tea and cold brews in the United States and speedy delivery network in China drew more customers. Shares of the world's largest coffee chain, which have surged about 20 percent this year, pared gains after rising as much as 2 percent

#Reuters
Apr 26, 2019

SAS pilots in Sweden head toward strike after rejecting mediators' bid

STOCKHOLM/COPENHAGEN/OSLO (Reuters) - Swedish pilots at airline SAS rejected a bid tabled by mediators on Thursday and began preparing to strike if a compromise cannot be reached by midnight, a move that could potentially disrupt travel plans for about 170,000 people. Danish, Norwegian and Swedish pilot unions had earlier this month called for 1,500 pilots to go on strike on April 26 if no agreement was reached on wages and other issues after an earlier round of talks failed to bear results

#Reuters
Apr 26, 2019

Amazon raises spending to accelerate Prime delivery speed to one day

By Jeffrey Dastin and Arjun Panchadar (Reuters) - Amazon.com Inc on Thursday trounced first-quarter profit estimates as demand for its cloud and ad services soared, but the company indicated that bigger spending was in store as it worked to turn its loyalty club Prime into a one-day shipping programme. Shares rose 2% in after-hours trade. Amazon's first-quarter net income more than doubled to $3.6 billion, while analysts were only expecting $2.4 billion, according to IBES data from Refinitiv

#Reuters
Apr 26, 2019

Intel cuts forecast as China data centre sales remain weak

By Sayanti Chakraborty and Stephen Nellis (Reuters) - Chipmaker Intel Corp on Thursday cut its full-year revenue forecast and missed analysts' estimates for first-quarter sales for its higher-margin data centre business, sending its shares down as much as 7.5%. The forecast adds to concerns that an industry wide slowdown could persist until the end of 2019 and follows a similar warning earlier this week from chipmaker Texas Instruments Inc

#Reuters
Apr 26, 2019

Stephen Moore, Trump's pick for Fed, says he is not withdrawing

By Ann Saphir SAN FRANCISCO (Reuters) - Stephen Moore, U.S. President Donald's Trump pick to fill a vacant seat at the Federal Reserve, says he will continue to pursue his nomination even as a trail of his dismissive comments about women and the Midwest have sparked renewed criticism by Democratic lawmakers. "I’m going to stick it out," Moore told the John Howell radio show earlier this week

#Reuters
Apr 26, 2019

Grubhub profit better than expected; shares jump 5.3 percent

LOS ANGELES (Reuters) - Grubhub Inc's reported a first-quarter profit on Thursday that topped Wall Street's view after the restaurant delivery service ramped up spending to encourage customers to order more often and spend more.

#Reuters
Apr 26, 2019

Japan tells U.S. can't link monetary policy to trade: finance minister Aso

By David Lawder and Jason Lange WASHINGTON (Reuters) - Japanese Finance Minister Taro Aso said on Thursday he told U.S. Treasury Secretary Steven Mnuchin that Tokyo cannot accept discussions that link monetary policy to trade issues. The two countries also agreed that exchange-rate matters would be discussed between financial authorities, Aso told reporters after a meeting with Mnuchin.

#Reuters
Apr 26, 2019

Trump says China's Xi will soon come to White House

WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday he would soon host Chinese leader Xi Jinping at the White House, setting the stage for a possible agreement on trade between the world's two largest economies. The White House said on Tuesday that Treasury Secretary Steven Mnuchin and U.S.

#Reuters
Apr 26, 2019

Ford more confident of stronger 2019 despite 'volatile environment'

By Nick Carey and Paul Lienert DETROIT (Reuters) - Ford Motor Co on Thursday posted a better-than-expected first-quarter largely due to strong pickup truck sales in its core U.S.

#Reuters
Apr 26, 2019

Intel cuts full-year revenue forecast, misses on data-centre sales

(Reuters) - Chipmaker Intel Corp cut its full-year revenue forecast on Thursday and missed analysts' estimates for first-quarter sales for its higher-margin data centre business, sending its shares down 7 percent after hours. The lowered full-year revenue forecast adds to concerns that an industry-wide slowdown could persist until the end of 2019 and follows a similar warning earlier this week from chipmaker Texas Instruments. Intel marginally beat Wall Street targets for revenue and profit in the first quarter, but sales in the data centre group unit fell 6.3 percent to $4.90 billion, hit by weakness in China and inventory correction.

#Reuters
Apr 26, 2019

S&P 500 nudges lower as industrials drag

By Sinéad Carew NEW YORK (Reuters) - The S&P 500 closed just barely lower on Thursday, as a dive in industrial stocks and concerns about slowing global growth eclipsed gains in Facebook and Microsoft.

#Reuters
Apr 26, 2019

SAS pilots head toward strike after rejecting mediators' bid

STOCKHOLM/COPENHAGEN (Reuters) - SAS pilots rejected a bid tabled by mediators on Thursday and began preparing to strike if a compromise cannot be reached by midnight, in a move that could potentially disrupt plans for about 170,000 travellers. Swedish, Danish and Norwegian pilot unions earlier this month called a strike of 1,500 pilots if there was no agreement on wages and other terms after an earlier round of talks broke down without the parties finding common ground. A spokeswoman for the Swedish employers' organisation, which is heading the unions' negotiations, said pilots had rejected mediators' bid and were gearing up for a strike.

#Reuters
Apr 26, 2019

Corrected: Corporate profits and U.S. economy chug along, defying recession fears

By Trevor Hunnicutt NEW YORK (Reuters) - (This story has been refiled to use preferred name for Wilmington Trust, in 21st paragraph) After months of handwringing about the possible crash-landing of the housing market, investors awaiting quarterly earnings from No. 3 U.S. homebuilder PulteGroup Inc this week were ready for the worst

#Reuters
Apr 26, 2019

Ford first-quarter profit beats Wall Street view, more confident of stronger '19

By Nick Carey and Paul Lienert DETROIT (Reuters) - Ford Motor Co on Thursday posted a better-than-expected first-quarter as pickup truck sales remained strong in its core U.S.

#Reuters
Apr 26, 2019

Starbucks raises full-year profit forecast, shares rise

(Reuters) - Starbucks Corp raised its full-year profit forecast and reported quarterly profit and same-store sales that beat Wall Street estimates on Thursday, helped by higher prices of its coffees and ramped up delivery options in the United States. Starbucks' shares, which have risen about 20 percent this year, rose 2 percent and were set to hit a record high on Friday. The coffee chain has been beefing up its delivery services in the United States, where the market is overcrowded with restaurants and coffee-shops, especially in urban areas.

#Reuters
Apr 26, 2019

Grubhub quarterly profit falls as costs swell

LOS ANGELES (Reuters) - Grubhub Inc's first-quarter net income tumbled 78 percent after it ramped up spending to attract and retain restaurant partners and delivery customers. GrubHub, which is battling startups ranging from DoorDash and Uber Eats to Amazon.com Inc's Amazon Restaurants, has swept up more than a half-dozen companies since its April 2014 initial public offering and has been spending aggressively to expand its delivery network. Sales and marketing outlays were $78.5 million in the first quarter, almost 61 percent more than a year earlier.

#Reuters
Apr 26, 2019

Starbucks beats same-store sales expectations, shares rise 2 percent

(Reuters) - Starbucks Corp beat Wall Street estimates for quarterly sales at established cafes on Thursday, as higher prices and customer orders powered a strong growth in the United States, its largest market.

#Reuters